Loomis Sayles & Co. L P Increases Stock Holdings in ConocoPhillips (NYSE:COP)

Loomis Sayles & Co. L P lifted its position in ConocoPhillips (NYSE:COP) by 6.6% in the third quarter, HoldingsChannel reports. The firm owned 1,953 shares of the energy producer’s stock after buying an additional 121 shares during the period. Loomis Sayles & Co. L P’s holdings in ConocoPhillips were worth $206,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $26,000. Stephens Consulting LLC lifted its position in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the third quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new position in ConocoPhillips in the second quarter valued at about $35,000. Finally, Fairway Wealth LLC lifted its position in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on COP. UBS Group decreased their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Up 0.6 %

COP stock opened at $107.39 on Friday. The company’s 50 day moving average price is $108.80 and its 200 day moving average price is $110.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm has a market capitalization of $123.60 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.